Governance and Compliance

Basic Policy on Corporate Governance

RENOVA operates its business in line with its mission, “to create green and sustainable energy systems for a better world,” and its vision, “to become Asia’s renewable energy leader.”
RENOVA believes that to achieve these goals it is important to gain the trust of local communities, its customers, shareholders, employees, and all other stakeholders. To this end, it is strengthening and improving its corporate governance by building a legal compliance system, quick decision-making and business execution system, and appropriate supervision and monitoring systems.

  • Development of Compliance System

    RENOVA recognizes that implementing and improving a company-wide compliance system is essential for strengthening its creditworthiness and continuously raising its corporate value. It has established the Commitment to Compliance, posts it on RENOVA’s website, and ensures thorough communication of, and compliance with, the Commitment.
    RENOVA has established a Compliance Committee chaired by the Founding CEO. The Committee plans and implements measures necessary to promote the awareness of legal compliance and strengthen the compliance system. It also reports compliance-related issues and responses to them to the Board of Directors on a regular basis.
    Further, RENOVA is developing Corporate Ethics Hotline, a liaison for reporting to full-time Audit & Supervisory Board Members, Internal Audit Office, and external lawyers, as an internal consultation and reporting system for violation of law and other compliance issues. It is part of RENOVA’s efforts to monitor compliance risks arising in the Group.

    Commitment to Compliance

  • Anti-Corruption

    In the course of its global business operations in Asian countries, RENOVA complies with applicable laws and regulations in each country and region in which it operates, conducts fair business activities in accordance with sound business practices and socially accepted norms, and strives to prevent bribery in order to obtain unfair advantages.
    Specifically, we have established an anti-corruption initiative system focused primarily on bribery of public officials in each country in which we operate, and have established the Anti-Corruption Regulations for Foreign Public Officials, etc., as rules that the Group’s officers, employees and stakeholders should comply with.
    Under these Anti-Corruption Regulations for Foreign Public Officials, etc., we have provided explanations of anti-corruption-related laws and regulations and response rules for each country in which we operate, and are working to disseminate and ensure rigorous implementation through training for local employees.

  • Compliance at Suppliers

    RENOVA’s Sustainable Procurement Policy requires procurement partners to prohibit bribery, etc., eliminate antisocial forces, eliminate inappropriate suppliers and respect intellectual property.
    In addition to these requirements, we believe that all laws, regulations and social norms in business activities should be complied with, and strive to take strict measures as a basic condition for transactions with procurement partners.

  • Human Rights at Suppliers

    RENOVA believes that respect for human rights and protection of the rights of all people, including workers, are important issues that should be addressed throughout the entire supply chain. We have established a Sustainable Procurement Policy that requires procurement partners to comply with the prohibition of forced labor, prohibition of child labor, elimination of discrimination, and assurance of the health and safety of workers.

    Sustainable Procurement Policy